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Purely announces strategic investor

Purely Financial Group, which trades as one of the UKs national low fee mortgage brokers Purely Mortgages, has announced that Triandra has made an investment for 50% of the enlarged share capital of the company.

Triandra is ultimately owned by Investec Trust as trustees for the Tchenguiz family trust. Mortgage Ventures, Purelys seed investor, retains a 50% interest in the company.

The directors believe that the ensuing association with Consensus Business Group, which manages numerous investments on behalf of Investec Trust, will be highly beneficial to the Group. onsensus Business Group is managed by Vincent Tchenguiz, as agent for the Tchenguiz Family Trust.

Mark Chilton, chief executive of Purely Mortgages, says: We are delighted to announce this investment and our involvement with Consensus as a strategic partner with the Purely business. Consensus successful track record and experience with the UK mortgage sector will help fuel the next phase of growth of Purely.

Vincent Tchenguiz, chairman of Consensus, says: The track record of the Purely management team, coupled with its scalable technology platform, make it an ideal base on which to rapidly build additional value. With about 500m annual run rate of mortgages broked, Purelys customer driven product offering is clearly differentiated from its competitors. We look forward to working with the Company in its development and delivering to it the mutual benefits that can be gained through close cooperation.

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